Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Shares Gap Up - Here's What Happened

Key Points

• GGLL shares opened sharply higher, rising from a previous close of $110.18 to $116.00 and last trading at $120.47 on volume of 650,726 shares.
• The ETF announced a quarterly dividend of $0.5806 per share, equivalent to an annualized payout of $2.32 and a 1.9% yield.
• Several institutional investors increased their positions, including Oriental Harbor Investment Master Fund, which boosted its holdings by 117.6%, and Optiver Holding, which raised its position by 222.2%.

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL - )'s share price gapped up prior to trading on Monday . The stock had previously closed at $110.18, but opened at $116.00. Direxion Daily GOOGL Bull 2X Shares shares last traded at $120.47, with a volume of 650,726 shares changing hands.

Direxion Daily GOOGL Bull 2X Shares Price Performance

The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 17.77 and a beta of 2.24. The firm's 50-day moving average is $115.03 and its 200 day moving average is $107.99.

Direxion Daily GOOGL Bull 2X Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a $0.5806 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $2.32 dividend on an annualized basis and a yield of 1.9%.

Hedge Funds Weigh In On Direxion Daily GOOGL Bull 2X Shares

A number of large investors have recently modified their holdings of the company. UBS Group AG lifted its stake in shares of Direxion Daily GOOGL Bull 2X Shares by 3.7% in the 4th quarter. UBS Group AG now owns 584,382 shares of the company's stock valued at $56,615,000 after purchasing an additional 20,761 shares in the last quarter. Oriental Harbor Investment Master Fund raised its holdings in Direxion Daily GOOGL Bull 2X Shares by 117.6% in the fourth quarter. Oriental Harbor Investment Master Fund now owns 328,597 shares of the company's stock valued at $31,834,000 after buying an additional 177,587 shares during the period. Himension Capital Singapore PTE. LTD. acquired a new position in Direxion Daily GOOGL Bull 2X Shares during the first quarter valued at approximately $15,133,000. Optiver Holding B.V. lifted its position in Direxion Daily GOOGL Bull 2X Shares by 222.2% during the first quarter. Optiver Holding B.V. now owns 59,633 shares of the company's stock valued at $4,654,000 after buying an additional 41,127 shares in the last quarter. Finally, TRUE Private Wealth Advisors grew its stake in Direxion Daily GOOGL Bull 2X Shares by 1.0% during the third quarter. TRUE Private Wealth Advisors now owns 13,797 shares of the company's stock worth $871,000 after buying an additional 139 shares during the period.

About Direxion Daily GOOGL Bull 2X Shares

The Direxion Daily GOOGL Bull 1.5X Shares ETF (GGLL) is an exchange-traded fund that is based on the Alphabet Inc Class A index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Google stock. GGLL was launched on Sep 7, 2022 and is managed by Direxion.

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